ISSI announces formation of separate business unit

SAN JOSE, USA: Integrated Silicon Solution Inc. (ISSI) recently announced the formation of a separate business unit focused on its ASSP business that includes its EEPROM and SmartCard products.

The new business unit, which will operate under the name of Giantec Semiconductor Inc., intends to develop and market EEPROM, SmartCard, and analog power management devices. Giantec is headquartered in Shanghai, China.

As part of this formation, Shanghai Zhang Jiang Science & Technology Investment Corporation committed to invest $3.75 million in Giantec. ISSI will still own more than 50 percent of Giantec after this investment and, as such, will continue to consolidate the financial statements of Giantec.

"We are very excited about the creation of Giantec, which combines our existing EEPROM and SmartCard business with analog power management capability. This new venture strengthens our business opportunity in the all important Chinese electronics market," said Scott Howarth, ISSI's President and CEO. "We are also pleased to obtain the investment of Shanghai Zhang Jiang Science & Technology Investment Corporation. Their commitment further enhances Giantec's position in the Chinese market."

ISSI is a fabless semiconductor company that designs and markets high performance integrated circuits for the following key markets: (i) digital consumer electronics, (ii) networking, (iii) mobile communications, (iv) automotive electronics, and (v) industrial. The company's primary products are high speed and low power SRAM and low and medium density DRAM.

Through its Giantec business unit, it also designs and markets EEPROM, SmartCards and analog power management devices focused on its key markets. ISSI is headquartered in Silicon Valley with offices in Taiwan, Japan, Singapore, China, Europe, Hong Kong, India and Korea.